A couple years ago the OfficeMax Visa Signature credit card was launched. It’s a much better deal than what they previously offered, which offered little to nothing in terms of rewards. Their new credit card does offer rewards but the way its marketed can be a bit confusing to some people.

This is what OfficeMax says on their website, the page you see before the actual application:

• Earn 5% Or More
  As a MaxPerks member, you receive a $25 reward for every $500 in qualified purchases

–and–

• Earn 3%
  Earn 3 Visa Reward Points per $1 on net purchases at OfficeMax

– or –

• Earn 1%
  Earn 1 point in Visa Rewards per $1 spent on net purchases anywhere else Visa cards are accepted

What’s wrong with this picture?

I have been contacted by at least one person who was confused by the way they worded this. Why? Because you do not need the OfficeMax credit card to earn the “5% or more” through the MaxPerks. That is a loyalty rewards program that is separate from the credit card. Anyone can join the MaxPerks program and earn 5% even without the OfficeMax Visa card.

So ultimately, what this card gives you is the following:

• 3% at OfficeMax
• 1% elsewhere

This isn’t a bad deal at all for a store-affiliated card, but surprisingly, you may be able to earn higher rewards at OfficeMax by using a different credit card instead. Here’s how:

American Express Simply Cash – 5% at office supply stores
I actually have this card myself. There is no annual fee and you get a straight 5% cash back at office supply stores. So not only would you be earning a higher rebate of 5% at OfficeMax, but you would also be getting it at places like Staples, Office Depot, etc too.

Chase Ink Cash – 3% on up to $2,000 spending per month at office supply stores
If you are looking for a business card that gives high cash back on several categories, this is another winner. It has no annual fee and gives 3% on the first $2,000 spent each month for the following: office supplies, gas, home improvement, restaurants.

Conclusion?

The OfficeMax Visa Signature credit card is definitely an improvement over their previous cards but at the end of the day, it’s not going to give you the highest rewards. If you want the maximum rebate possible, your best bet is to use the 5% from the Simply Cash card in conjunction with the 5% you get through MaxPerks. Together, the savings would definitely add up fast.

Written June 2011